Talking about the host of measures on which they are working, Mohapatra said the DPIIT will be extending more funds this year to startups under the Fund of Funds scheme
The revenue department and DPIIT are working together to see what more relaxations can be given to startups under direct and indirect tax regimes with a view to promote budding entrepreneurs, said a senior civil servant on Saturday.
Guruprasad Mohapatra, secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), said they will be submitting a comprehensive vision document for startups to the Cabinet.
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Talking about the host of measures on which they are working, he said the DPIIT will be extending more funds this year to startups under the Fund of Funds scheme. It has provided over Rs 1,000 crore last year.
“Right now the taxation team of the department of revenue and startup India team from DPIIT are working together to see what further relaxations can be given in the direct and the indirect tax regime. We are also trying to provide marketing support to those startups who are into manufacturing by providing them space under the public procurement scheme of the central government,” Mohapatra said.
He was speaking at Rajasthan STRIDE virtual conclave, which was organised by Secretary in the Department of Science and Technology, Government of Rajasthan Mugdha Sinha.
Source: Business Standard